Pound picks up after further rate cut by Bank of England

Pound picks up after further rate cut by Bank of England

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Pound picks up after further rate cut by Bank of England

Sterling has enjoyed a slight recovery against the US dollar and euro as the Bank of England announced a further interest rate cut of 15 basis points to 0.1%. 

Also factoring in the BoE’s pledge of an additional £200bn to support the UK economy amidst the coronavirus outbreak, investors saw some redemption for sterling after a dismal week that has seen it reach a 35 year low against the US dollar.

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